Developers and owners across the board are tempering their expectations as the industry adjusts to the closing of the Home Ownership Campaign (HOC) and a lack of strong catalysts this year, according to the PropertyGuru Malaysia Property Market Index (MPMI) Q1 2020 report.
The overall MPMI for the country dropped by 1.04 index points from 89.94 in Q3 2019 to 88.90 in Q4 2019, representative of a longer-term decline. These adjustments, in conjunction with Bank Negara Malaysia’s (BNM) recent Overnight Policy Rate (OPR) revision and Budget 2020’s emphasis on rent-toown (RTO), serve to make property in Malaysia a buyers’ market in the near term.
Media Title: The Star
Date: 16 Mar 2020